The AI Mega Caps surge, while the rest of the world burns. Equities were dragged record highs by 2 stocks this week, masking the underlying weakness in the rest of the market and the effect of a more hawkish than expected Fed meeting.

Stock Highlights

• Sigma (SIG) Sigma Healthcare’s proposed merger with Chemist Warehouse faces scrutiny from the ACCC due to competition concerns at both the retail and wholesale levels.
• ASX (ASX) The ASX dropped over 8% after revealing at its investor forum that it expects cost growth of 6%-9% in FY 2025 due to ongoing technology investments following the costly CHESS registry upgrade failure.
• Telix Pharmaceuticals (TLX) Telix Pharmaceuticals decided against a Nasdaq listing to raise $300 million, citing misalignment with shareholder interests and unsatisfactory proposed discounts.

Trade of the Week

• Boss Energy (BOE) – This uranium producer should recover from oversold levels as uranium stabilises